Merit Medical Systems (NASDAQ:MMSI) Rating Lowered to Hold at Zacks Research

Merit Medical Systems (NASDAQ:MMSI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently issued reports on MMSI. Wells Fargo & Company increased their target price on Merit Medical Systems from $74.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings raised Merit Medical Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, October 12th. BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Merit Medical Systems in a research note on Tuesday, August 11th. Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target on shares of Merit Medical Systems in a research report on Friday, July 31st. Finally, Canaccord Genuity Group increased their price objective on Merit Medical Systems from $85.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Merit Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Merit Medical Systems Stock Up 1.4%

Shares of MMSI opened at $91.18 on Monday. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 37.68, a P/E/G ratio of 2.25 and a beta of 0.51. The company has a quick ratio of 2.79, a current ratio of 4.20 and a debt-to-equity ratio of 0.44. Merit Medical Systems has a 12 month low of $59.74 and a 12 month high of $94.75. The company has a 50-day moving average price of $88.30 and a two-hundred day moving average price of $76.33.

Merit Medical Systems (NASDAQ:MMSI) last released its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Merit Medical Systems had a return on equity of 13.75% and a net margin of 9.22%. The company had revenue of $418.84 million for the quarter, compared to the consensus estimate of $405.25 million. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Merit Medical Systems has set its FY 2026 guidance at 4.250-4.350 EPS. Equities analysts predict that Merit Medical Systems will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Merit Medical Systems

Several institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC grew its stake in Merit Medical Systems by 3.9% during the first quarter. Conestoga Capital Advisors LLC now owns 2,167,513 shares of the medical instruments supplier’s stock worth $149,407,000 after buying an additional 81,030 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Merit Medical Systems by 6.4% during the third quarter. Congress Asset Management Co. now owns 1,260,675 shares of the medical instruments supplier’s stock worth $108,708,000 after buying an additional 76,338 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Merit Medical Systems by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,237,298 shares of the medical instruments supplier’s stock worth $85,287,000 after buying an additional 12,285 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Merit Medical Systems in the second quarter valued at approximately $78,894,000. Finally, Maverick Capital Ltd. raised its stake in shares of Merit Medical Systems by 46.9% in the first quarter. Maverick Capital Ltd. now owns 714,081 shares of the medical instruments supplier’s stock valued at $49,222,000 after acquiring an additional 227,915 shares during the last quarter. 99.66% of the stock is owned by institutional investors.

About Merit Medical Systems

Merit Medical Systems, Inc is a medical device company that develops, manufactures and distributes disposable products used in interventional, diagnostic and therapeutic procedures. Its devices are designed for use by healthcare professionals in hospitals, outpatient facilities and other clinical settings.

The company’s product portfolio includes devices for vascular access, angiography, intervention, drainage, embolization, oncology and cardiac procedures. Merit also offers products used in peripheral intervention, spine procedures and other specialized areas of minimally invasive medicine, including kits, accessories and related procedural equipment.

Founded in 1987 and headquartered in South Jordan, Utah, Merit Medical serves healthcare providers through a global commercial and manufacturing network.